By Nicholas Waitathu
The United States Agency for International Development (Usaid) will advance Sh480 million to young people looking to engage in economic activities.
The money will be channelled through the organisation’s regional partners, including the National Cooperative Business Association (NCBA), which is the national voice for co-operative enterprise in the Unites States.
Investment programme
Usaid Kenya will disburse the funds under its youth investment programme, Yes Youth Can, which is designed to help the youth form groups and expose them to wealth creation platforms.
NCBA has helped start over 3,000 youth groups in six counties. Some of these youth groups have come together at the county level and started county youth savings and credit cooperatives, which are offering credit to each other for business.
“We have supported other sectors of the economy such as health and agriculture, but this time our focus is on growing the capital of youth Saccos to enable them advance credit to more young people, thus broadening the wealth creation bracket,” NCBA Country Director Joyce Wafula said.
The financing will go to 25 youth Saccos spread across five regions — Coast, Nairobi, Western, Nyanza, Central and Rift Valley.
Wafula said her organisation had partnered with Usaid Kenya to finance the youth credit unions to facilitate enterprise development and complement government efforts to enhance the country’s cooperative movement.
“The Saccos will promote youth savings and an investment culture among the majority unemployed youth, giving them hope for their future,” she said.
